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ILNS - Intellect Neurosciences Retains Chain Pharmaceuticals LLC

NEW YORK, July 30, 2013 (GLOBE NEWSWIRE) -- Intellect Neurosciences, Inc. (ILNS) announced today it has retained Chain Pharmaceuticals LLC as a consultant to assist the company in managing its patent estate and external collaborations and pursuing strategic alternatives for the company, which may include partnerships, strategic business model alternatives, a sale or other transaction.

"We are delighted Dr. Daniel Chain has agreed to return to Intellect as a consultant and assist us with our strategic options," said Elliot M. Maza, Consulting Chief Financial Officer and Director of Intellect Neurosciences. "As the founder of Intellect, Dr. Chain is uniquely qualified to assist us in our efforts to maximize the value of Intellect's unique collection of high value assets."

About Intellect Neurosciences

Intellect Neurosciences, Inc. develops innovative approaches aimed at arresting or preventing Alzheimer's disease and other neurodegenerative diseases, with a specific focus on proteinopathies. Intellect's pipeline includes therapeutic vaccines, antibodies and neuroprotective antibody drug conjugates. For more information, please visit www.intellectns.com.

http://finance.yahoo.com/news/intellect-neurosciences-retains-chain-pharmaceuticals-153000033.html